TobinLeff is pleased to have served as the M&A advisory firm to Up&Up on its sale to GMB, a Michigan-based architectural and engineering company focusing on the education space.
Selling your business is like running a marathon: it takes time, it’s emotional, and it’s incredibly rewarding. So, when Adam Landrum knew it was likely the best time to sell his business, he said he knew he needed to engage an M&A advisory group with deep experience and the ability to strategically, and creatively, navigate the sales process: “Most people only get one chance to sell their agency, and I wanted to make sure I chose the right partner to get it right the first time.”
Up&Up, a marketing communications firm based in South Carolina specializing in higher education, had built several partnerships with other complementary businesses to increase the company's client base and revenue. This, among other contributing factors, led companies in various industries to inquire about the opportunity to acquire Landrum’s agency.
Roy Page of TobinLeff said, "When Adam first came to TobinLeff, he didn't know the value of his firm and was exploring ways to prepare the company for a transition. He needed clarity on its value and clean financials for presentation to potential buyers." TobinLeff worked with Adam and his team to stage and prepare Up&Up for sale. To ensure Landrum would sell from a position of strength and command the highest selling price, TobinLeff started by:
- Conducting a cultural fit assessment
- Crafting a value analysis
- Preparing the financial statements
- Ensuring the accuracy of the working capital
- Regularly tracking Up&Up’s financials and performance
The entire staging process went even deeper so that every aspect of the deal was presentable to potential buyers. TobinLeff's team kept both parties engaged and talking, even during challenging moments, to troubleshoot and come to a close that would benefit both parties.
This strategic acquisition allowed both companies to leverage the unique benefits of each other's services while moving further into education-based client relationships and offering a broadened scope of services. The progressive nature of innovative thinking and the perfect alignment in company value and cultural fit provided big wins for each business.
Adam Landrum said of the selling experience: “TobinLeff was there to guide me every step of the way. I valued Roy and Chuck's guidance, diligence, and collaboration with Up&Up's accounting and legal counsel. I am very happy that I chose TobinLeff, and I would highly recommend them for the sale of your agency.”
About TobinLeff:
TobinLeff is a leading M&A advisory and exit planning consulting firm, helping owners sell to strategic buyers and private equity groups. With 14 years of service, TobinLeff’s team of senior advisors brings a wealth of Mergers & Acquisitions experience as former business owners, accountants, attorneys, and bankers dedicated to the mission of helping their clients maximize and monetize their life’s work. TobinLeff is the go-to resource for business owners looking for true partners in their exit planning journey.
Are you interested in selling your firm? Or in growing via strategic acquisition? Contact our team today.
